B2B e-commerce, compared to the B2C sector, is expected to grow twice as large as B2C commerce in 2020. It is poised to be the fastest-growing segment of e-commerce between 2020 and 2025. The B2B ecommerce sales are anticipated to attain the mark of $3 Trillion by 2024, growing at a CAGR of 7.6% by 2020.
To remain competitive, small or large companies must make the best use of current technologies and be future-ready to capture potential trends. However this should be done in a cost-effective way. One way to do this is to choose a Magento development services for e-commerce website development.
The trends of B2B companies are going through a paradigm shift, encouraged by buyers who expect B2C like experiences across the supply chain. If you want to improve your position in the industry and serve your B2B, Magento is a perfect choice. Sustaining in the highly competitive B2B e-commerce market that values $6.7 trillion, Magento makes extensive and flexible use of the e-commerce suite across the entire Magento portfolio and helps buyers respond transparently to their requirements. Take advantage of all the functions of Magento B2B e-commerce service offerings, offer reliable and efficient shopping experiences without expensive investment costs, and stimulate your B2B sales.
Benefits of Magento Development Services:
All under one umbrella
Magento B2B eCommerce contains everything you need for your online store; you can offer multiple brands through distribution partners and key accounts and manage all your accounts effortlessly. There is a feasibility of quickly configuring and integrating your Magento B2B e-commerce site with your CRM or ERP solution. Take advantage of the self-service function to track quotes, view thorough order history, and manage credit online. Increase efficiency by providing a consistent brand experience for your customers across multiple brands and geographic areas using a single platform.
Providing a consistent shopping experience for all buyers, regardless of size or industry, may not be the best business strategy. Often, the online shopping experience involving a set of buyers may not appeal to everyone. With Magento B2B e-commerce, you can segment customers and personalize experiences for specific groups of companies or individuals based on browsing behavior or buying history. Customers can be targeted based on specific viewed products, products in the carts, the total value of the products, or the number of items in the shopping cart. The segmental analytics gives a free hand to execute the overall demand-to-supply strategies.
Advanced Inventory Management
With Magento’s intelligent inventory management function, companies can improve their activities and manage orders from all sales channels efficiently. With real-time inventory information across the supply chain, they can optimize the costs and delivery times. Inform distributors about the current inventory indexing on different websites, and offer a better experience with increasing sales.
If an entity serves in an industry that sees different ups and downs in sales and business at different times of the year, the content staging functionality of Magento’s can help create a dynamic and that instantly changes changing product page according to a predetermined schedule. It helps in creation, views, and schedules a wide variety of content updates and creates multiple versions of content for future references. As soon as a content change expires for a specific period, the content automatically reverts to the previous version. The staging functionality can be applied for products, price rules, categories, CMS pages, or widgets.
Factors to look for before heading with Magento Development Services
A common mistake that companies make when implementing a Magento e-commerce site is to analyze instant needs. The success of your online store is not limited to having a functional website, but also integrating backend applications to manage your multi-channel environment effectively.
With the integration, it is crucial to choose the right Magento development company.
- If you wish to build and design your online store right from the start, consider a Magento development company with expertise in e-commerce platform development, system integration, and designers.
- Magento service providers also assist in providing exact ecommerce website development solutions to your online store to hit the right targets that are in sync to the business objectives and customers.
- In terms of e-commerce store hosting, a Magento service provider can help you set up a dedicated or cloud servers for smooth operation at the backend.
Coming on a conclusion to setup a Magento-based ecommerce store could be driver for an online business. Also collaborating with a Magento development company will serve you with all the mandatory function like design, hosting, system integration, and support. Hence, it is well-proven fact that to flourish as a B2B ecommerce player, one should be thoughtful about the types of service you require before hiring a Magento partner for your online business platform. To know more, connect with Panacea Infotech that has team of experts dedicated to Magento development with proven results.